As used in NRS 349.075 to 349.078, inclusive: 1. “Par” means the principal amount of a security plus the accrued interest thereon from the date of the bonds to the date of delivery and full payment. 2. “Security” means a bond or other evidence of indebtedness. (Added to NRS by 1967, 218)
Except as otherwise provided by a specific statute, including, without limitation, NRS 99.067, the rate or rates of interest on securities issued by the State must not exceed by more than 3 percent: 1. For general obligations, the Index of Twenty Bonds; and 2. For special obligations, the Index of Revenue Bonds, which was most […]
Except as otherwise provided by a specific statute, securities issued by the State may be sold at par, above par or below par at a discount of not more than 9 percent of the principal amount, but the effective interest rate must not exceed the limit provided in NRS 349.076. (Added to NRS by 1967, […]
No security may be issued or sold by the State after the expiration of 6 years from the date of the election authorizing such issue, if an election is required by any law whenever enacted. (Added to NRS by 1967, 219)
